Bitcoin Dips to $88,500 as Silver Hits Record $100/AOunce and Gold Near $5,000

Bitcoin (BTC) fell sharply on Friday, dropping back to $88,500 amid continued rallies in precious metals. Silver reached a record $100 per ounce for the first time ever, while gold neared $5,000 per ounce. Platinum surged 5% to a new all-time high, and copper rose 2.5% to near a record. Crypto-related stocks also declined, with Coinbase (COIN) down 2.6% and Marathon Digital Holdings (MARA) posting a 2% drop. The crypto sell-off coincided with U.S. stocks recovering from early losses, with the Nasdaq up 0.4%. Meanwhile, Bitcoin's year-to-date returns dropped from 9% to 2%, reflecting weaker demand from U.S. investors and heavy outflows from spot ETFs. Stablecoin redemptions into fiat also signaled some institutional players stepping back from the market.